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Samsung blames revenue fall on slow Galaxy S9 sales

Samsung is due to announce the latest iteration of the Galaxy Note smartphone next week, which it said will hit shelves sooner than previous years.

This could refer to its "foldable" handheld device rumoured for launch in 2019, or the prototype bendable displays, branded Youm, it first showed off in 2013.

Samsung posted an operating profit of $13.3 billion on revenues of $52 billion for the quarter ending June 30.

Weak sales of its flagship smartphone, the Galaxy S9, drove down earnings but robust demand for premium TVs - thanks to soaring interest in the World Cup - and memory chips helped boost operating profit almost six%.

The company said the new Note smartphone, which has often been the most expensive phone model from Samsung, will be sold for "a reasonable price" this time.

If there will be any other benefits to upgrading to the Galaxy Note 9 other than the exclusive S Pen features, do let us know down in the comments.

Samsung's mobile business accounts for almost 40 percent of the company's sales.

As it is rolling by the SM-A750FN model number, it could be speculated that this device might end up as the Samsung Galaxy A7 (2018), next in line in the not-too-shabby mid-range Galaxy A family.

Today, the company has launched the Galaxy On8 smartphone in India for the Rs 16,990. The mobile business booked 2.7 trillion won in quarterly operating profit.

According to Korean site ETNews, Samsung will develop the foldable displays by March, manufacture panels in September and start manufacturing the phone itself in November.

Samsung's Galaxy X will have a 7.3-inch flexible OLED screen which folds inwards like a book. Xiaomi and Huawei, especially, are giving Samsung a headache in the world's top smartphone markets: China and India.

The Apple Inc components supplier and smartphone rival said operating profit from the mobile business recorded its steepest rate of decline since the first quarter of 2017, as cheaper Chinese-made handsets put pressure on margins. NAND prices might be down, but demand from the cloud computing and cryptocurrency industries kept DRAM prices up.

Samsung shares were down 0.5 percent in early trading, compared with 0.2 percent drop in the broader market (.KS11).

Operating income from the chip unit amounted to 11.6 trillion won, accounting for the lion's share of profit.